Evergreen Capital Management LLC Decreases Stake in Webster Financial Corporation $WBS

Evergreen Capital Management LLC decreased its position in Webster Financial Corporation (NYSE:WBS) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,796 shares of the financial services provider’s stock after selling 216 shares during the period. Evergreen Capital Management LLC’s holdings in Webster Financial were worth $453,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in Webster Financial in the 1st quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Webster Financial by 327.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 566 shares during the last quarter. TCTC Holdings LLC increased its stake in shares of Webster Financial by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 451 shares during the last quarter. Allworth Financial LP increased its stake in shares of Webster Financial by 43.7% during the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 286 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Webster Financial by 171.2% during the 1st quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 647 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Down 0.1%

WBS opened at $62.24 on Tuesday. The company has a 50 day moving average of $58.46 and a 200 day moving average of $53.32. The company has a market cap of $10.34 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.57 and a beta of 1.07. Webster Financial Corporation has a 12 month low of $39.43 and a 12 month high of $63.99. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.43 by $0.09. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The company had revenue of $715.80 million during the quarter, compared to the consensus estimate of $716.59 million. During the same period last year, the firm earned $1.26 EPS. Webster Financial’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, sell-side analysts expect that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 11th. Webster Financial’s dividend payout ratio (DPR) is presently 32.45%.

Insider Transactions at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $57.95, for a total value of $463,600.00. Following the completion of the transaction, the chief executive officer directly owned 239,872 shares of the company’s stock, valued at $13,900,582.40. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $53.25, for a total transaction of $266,250.00. Following the completion of the transaction, the insider directly owned 31,534 shares of the company’s stock, valued at approximately $1,679,185.50. The trade was a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,445 shares of company stock worth $2,250,007. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WBS shares. Jefferies Financial Group started coverage on shares of Webster Financial in a research note on Wednesday, May 21st. They set a “buy” rating and a $65.00 price target for the company. Truist Financial restated a “buy” rating and set a $67.00 price target (up previously from $61.00) on shares of Webster Financial in a research note on Friday, July 11th. Keefe, Bruyette & Woods raised their price target on shares of Webster Financial from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Citigroup raised their price target on shares of Webster Financial from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, Raymond James Financial raised their price target on shares of Webster Financial from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.77.

Webster Financial Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.